WHETHER THE REASON IS A layoff, a medical emergency or a pile of debt that is more than you can afford, struggling to pay credit card bills is a problem many people face. When you stop making credit card payments, you could not only be charged late fees and higher penalty interest rates but also take a hit on your credit. If your unpaid balance lingers for too long, your account may go to collections, and you could be served with a debt collection lawsuit.

The more recent the collection, the more it will hurt your score, according to FICO. That said, the damage can last a long time, says Todd Christensen, education manager at Debt Reduction Services, a nonprofit debt management and credit counseling service in Boise, Idaho, and author of "Everyday Money for Everyday People."

"Keep in mind that just because you might get caught up on your payment – whether it was 30 days or 90 days late – the note remains on your credit report for seven years as a negative mark," Christensen says.

Here is what you can expect when you've stopped paying a credit card.

The Stages of Credit Card Delinquency

A credit card payment is generally considered late when it's 30 days past due and won't end up on your credit report until that point, according to the credit bureau Equifax. Some creditors don't report late payments until they are 60 days overdue.

Even if a missed payment is not immediately reported to the credit bureaus, you could be hit with a late fee, Equifax notes.

As missed payments pile up, the consequences can become more severe, says Jeff Arevalo, financial wellness expert at GreenPath Financial Wellness.

"If the debts continue to go unpaid, then a person may face charge-offs and even more fees and penalties," he says. "The cumulative consequence will make it harder for someone to pay the debt off and can potentially push any of his or her financial goals even further into the future."

What Happens if Your Payment Is 30 Days Late?

Miss a credit card payment by 30 days and you may end up with a late fee and a penalty interest rate, Arevalo says.

Also, your credit score could drop once a late payment shows up on your credit report. The reason is that payment history is the top factor affecting your FICO score, making up 35% of it.

Missing a payment by 30 days could cause a credit score to drop between 50 and 100 points, Arevalo says.

Adds Christensen: "I've heard from consumers who saw their credit score drop by 70 points because of a single missed payment."

Several details determine the effect of a late payment on your score. The more recent the payment is, for example, the more it could damage your score.

"The further in the past it gets, the less it hurts," Christensen says.

Your credit rating can also influence how much missing a payment might sting. "The better your score when you miss a payment, the more your score will drop," Christensen says.

What Happens at 60 Days Late?

As you might expect, the financial pain is worse for a credit card payment that is 60 days late than for one that is 30 days overdue. "The later the missed payment becomes, the more it can hurt," Christensen says.

At this point, you might be subject to more fees and penalties and see your credit score drop even more.

"If one's credit history is shorter or already in a negative status, the individual may not see quite as large a drop," Arevalo says. "But the damage cannot be ignored."

Missing two payments could trigger your card's penalty interest rate, which can be costly. Although federal law does not limit the interest rates that credit card companies can charge, states may set ceilings, according to the Consumer Financial Protection Bureau.

What Happens at 90 Days Late?

Once your payment hits 90 days of delinquency, the credit card company could send your account to collections. If this happens, the debt collector will reach out to you about the overdue payments.

Your credit score is likely to take a sizable hit. In fact, Arevalo says he has seen FICO simulations showing that a payment late by 90 days can drop a credit score by 180 points.

"Showing a continuous pattern of risky behavior is a big warning sign to the bureaus, and one's credit score will reflect that," he says.

If your account is still open, the issuer could reduce your credit limit and increase your interest rates on other cards. Other card issuers that have spotted the 90-day delinquency could also lower your limits.

What Happens at 120, 150 and 180 Days Late?

Once you've missed at least four payments, you will face more of the same effects as a payment that is 90 days late – but harsher.

The card issuer or collection agency almost certainly will step up efforts to get payment for your debt, and on top of that, your credit score can drop even more.

If it hasn't already, your credit card issuer will most likely sell your debt to a collection agency once you're 180 days late, which is known as a charge-off. A charged-off debt is not forgiven; you're still responsible for paying it.

The decision about when to charge off an account varies from one company to another, Christensen says. "Many will charge off accounts after six months, while others might wait 12 months or longer," he says.

A charge-off is a big negative mark that stays on your credit report for seven years. Christensen says, "A charged-off account is the same as a delinquent account," and the more you have on your credit report, the more they hurt your credit score.

If you have old unpaid debts, you may get hit with a debt collection lawsuit. State laws govern how long a debt collector has to sue you, which is referred to as the statute of limitations and ranges from three to six years, according to the CFPB.

Settling your debt may be an option instead of going to court. Debt settlement means a creditor has agreed to accept less than the amount you owe as full payment, but it also means you must pay immediately.

What to Do if You're Late on Credit Card Payments

The longer you wait to deal with late payments, the worse the situation can get and the less willing creditors may be to work out a payment plan. Here are five steps to take if you find yourself in a bind with your credit cards.

1. Review your budget. Identify areas to reduce expenses so you can at least make your minimum credit card payments on time. Think about not only how you can cut back but how you can increase your income.

"Consider a side hustle to earn some extra cash quick so you will have enough money to make the payment," Christensen says, mentioning food delivery, lawn care or dog walking as possibilities.

Put away your credit cards – do not add charges – until you've caught up on payments.

2. Call the credit card company. "Calling the creditor to explain what's going on can at least put the person out in front of the situation," Arevalo says. "The creditor may be willing to waive a late fee or offer some type of hardship program."

If you realize you're going to miss a payment or two, alert the credit card issuer. If you've already missed a payment, don't put off contacting the card issuer.

"While some borrowers fear calling the creditor to let them know of their current dilemmas, working in good faith with the lender will rarely be a bad idea," Christensen says.

He says lenders might offer some type of relief, such as a lower payment for up to six months or a waived minimum payment.

"Before calling, be sure you understand your financial situation so you know what you can and cannot afford to pay," Christensen says.

3. Research debt consolidation. Using a balance transfer credit card or a loan to consolidate debt could help you manage payments if your interest charges have grown out of control.

A balance transfer credit card with a 0% introductory APR, often for 12 months, allows you to transfer card balances and pay down your debt interest-free during that time. The risk is that you won't be able to pay off the balance, and you'll owe interest at a new rate on the remaining charges.

A debt consolidation loan combines all of your bills for a single payment to make managing your finances easier and spreads out payments for better affordability – but that means forking over interest.

4. Reach out to a credit counseling agency. A credit counselor can help you set up a budget and may suggest a debt management plan, or DMP, after reviewing your finances. "If an individual is having difficulty with debt payments, it's extremely important that he or she develop a plan or reach out for help," Arevalo says.

Many credit counseling agencies are nonprofits and may offer free initial consultations, but DMPs often require fees. The National Foundation for Credit Counseling and the Financial Counseling Association of America are two resources for finding credit counselors.

5. Consider bankruptcy. If you're overwhelmed by credit card debt, two kinds of bankruptcy could help:

• Chapter 7. This type of bankruptcy erases your debts but allows the sale of certain assets to pay creditors. A Chapter 7 bankruptcy stays on your credit report for as long as 10 years.
• Chapter 13. In a Chapter 13 bankruptcy, you develop a plan to repay your debts and keep your assets. This type of bankruptcy stays on your credit report for seven years from the filing date.

The Bottom Line on Discontinuing Card Payments

If you stop making credit card payments, you could pay a heavy price. You can expect your:

Credit score to fall – the higher the score, the steeper the drop. Card issuer to charge you late fees and a penalty interest rate. Consequences to become more severe the more payments you miss, and a creditor could send your account to a collection agency. Late payments to stay on credit reports for up to seven years, but with help, you can boost your score over time. As you pay off your credit card debt, you will need to be patient. Building a credit score can take a long time, unlike bringing it down, Arevalo says.

The best way to bounce back from credit card debt is to bring all payments current, consistently pay on time, take a hard look at reducing expenses, and keep debt low moving forward, he says.

"Whenever a person's credit is damaged, we encourage him or her not to panic," Arevalo says. "There is always a path to recovery.

This article was originally published By John Egan and Chris Kissell, creditcards.usnews.com.